FX.co ★ New Zealand Factory Activity Remains in Contraction

The BusinessNZ Performance of Manufacturing Index (PMI) in New Zealand remained unchanged at 49.9 in September, indicating a continued state of contraction. This situation arises as businesses confront ongoing weak demand and uncertainty in both domestic and export markets. The new orders index decreased slightly to 50.3, highlighting a dip in demand from the previous month. Rising costs, diminished confidence, and competitive pressures are causing manufacturers to remain cautious, limiting any signs of recovery.